Static and Rotating Equipment Market
Static equipment, also called fixed equipment, is non-moving equipment that is generally used in the oil and gas industry. These are subjected to extreme operating conditions and fluctuating damage mechanisms while operating in the oil and gas industry. Additionally, unlike other equipment used in the oil and gas industry, the static equipment lacks sensors for their maintenance. Rotating equipment generally move solids, gases, or liquids through an assembly of components, drivers, auxiliary equipment, and transmission devices. Rotating equipment is best utilized for processing in the oil and gas industry. The static and rotating devices are an integral part of the oil and gas industry.
The static and rotating equipment (oil and gas) market is likely to experience good growth globally in the upcoming years. The ongoing developments witnessed in the oil and gas sector are likely to propel this market in the future. Recently, the demand for oil and gas in the energy and construction sector globally is on the rise. The construction of new oil refineries and factories to meet the increasing demand for oil and the offshore exploration and production activities in the Gulf regions are anticipated to further drive the static and rotating equipment (oil and gas) market. Additionally, upstream, midstream and downstream activities are heavily dependent on static and rotatory equipment and the ongoing investments in the oil and gas industry in the Middle East and African region are projected to further propel this market in the future. However, the fluctuating oil prices might limit this market’s future growth.
By static equipment, this market is segmented into valves, boilers, and furnaces. By rotatory equipment, this market includes compressors, turbines, and pumps.
By region, this global market is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. The North America region held a significant share in the global static and rotating equipment (oil and gas) market in 2017. The region is likely to continue its dominance over the forecast timeframe as well, due to the increased number of new oil and gas projects in Canada, the re-opening of exploration and production of offshore activities in the Gulf of Mexico, and the growing drilling activities for shale gas production in the LNG sector. The Middle Eastern and African region is predicted to provide significant growth opportunities for this market in the future, owing to the substantial investments made by organizations for the development of region’s static and rotating equipment (oil and gas) market. Moreover, Nigeria and other GCC countries are expected to increase their current production level to meet the global oil and gas demand, which, in turn, are anticipated to drive this regional market in the upcoming years.
Some industry players operating in the static and rotating equipment (oil and gas) market are Metso Oyj, Alfa Laval AB, Pentair plc, General Electric Company, Atlas Copco AB, Siemens AG, Tenaris S.A., Sulzer Limited, OAO TMK, FMC Technologies Inc., Technip SA, and Flowserve Corporation, among others.